The Senate Agriculture Committee held a hearing on 9 February, “Examining Digital Assets: Risks, Regulation, and Innovation.” It is easy to get lost in the complexity of this topic, especially when discussing regulation, such as, which agency should be the chief regulator – the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC) or some other agency.  It's best to start with a primer on what the digital assets actually are. First, they are assets, which simply are things of value that can be owned and used, such as a physical facility, or a commodity. Digital assets are not physical but rather are stored or transmitted electronically. Then there are the various characteristics...